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💳Credit Card Balance TransferCanada
Typical APR: 19–25%Promo: 0–0.99% for 6–12 moFee: 1–3% of balance
💰SAVINGS
$771
you save by transferring
Break-even
mo 2
Transfer fee
$150
📅PAYOFF PLAN
22 mo
months to pay off (BT)
Current card
25 mo
Promo covered
58%
🔀ALTERNATIVES
$592
personal loan interest (10.99%/24mo)
LOC interest
$435
BT card cost
$362
Interest Savings & Break-Even
📋Your current card
Balance to transfer
$
Current APR
% / yr
Typical Canadian: 19.99–22.99%
Monthly payment
$
Amount you will actually pay each month.
✨Transfer offer
Transfer fee
%
Canadian range: 0.99–3% (one-time)
Promo APR
% / yr
Often 0% or 0.99% in Canada
Promo period
mo
Typically 6, 9, or 12 months
Revert APR
% / yr
Rate after promo ends on remaining balance
Annual card fee
$
Many Canadian BT cards: $0–$29
✦ AI promo estimate▼
⚠ Balance won't clear before promo endsYou need $429.17/mo to clear the transferred balance in 12 months. Your payment is $250 - $179.17/mo short. At month 13, remaining balance reverts to 22.0%.

Net savings from transferring

+$771

You save by transferring

Break-even at

Month 2

Transfer fee recovered by interest savings

Stay on current card

$1,132

Total interest · 25 mo

After transfer

$362

Fee $150 + interest · 22 mo

📉Balance payoff timeline
💰Cumulative cost comparison

Transfer cost includes the one-time fee ($150) at month 0. Where the lines cross = break-even.

▦Cost breakdown
Current card
Balance$5,000
APR20.0%
Monthly payment$250
Months to pay off25 mo
Total interest$1,132
After transfer
Balance + fee$5,150
Transfer fee$150
Promo APR0.0%
Revert APR22.0%
Months to pay off22 mo
Interest (promo+post)$212
Total cost (fee+int)$362

Assumptions & disclaimers

  • Assumes no new purchases during the payoff period.
  • Uses monthly compounding - actual banks may use daily compounding (slightly higher).
  • AI estimates are illustrative only - not actual offers from any institution.
  • Not financial advice. Consult a licensed financial advisor.
🇨🇦 Canadian BT cards 2026

Current market offers (Ratehub.ca, 2026). Rates subject to change - verify with issuer.

CardPromoPeriodFee
⭐MBNA True Line MC
Annual: $0
0.00%12 mo3%
CIBC Select Visa
Annual: $29
0.00%10 mo1%
BMO Preferred Rate MC
Annual: $0*
0.00%9 mo0.99%
RBC Visa Classic Low
Annual: $20
0.99%10 mo3%
Scotia Momentum No-Fee
Annual: $0
0.00%6 mo0%

* BMO $29 annual fee - first year waived.

🛡OBSI consumer tips▼